Green Composites Market: An Eco-friendly and Cost-effective Solution
- Green composites are made from biopolymers or renewable-resource-based polymers, which are reinforced with bio-fillers or natural fibers. Green composites are recyclable, renewable, and biodegradable. They essentially reduce the dependency on fossil fuel to a great extent when used in interior applications.
- Factors such as the evolution to a circular and low-carbon economy, strong policy support for the bio-economy from governments across the globe, and increasing consumer awareness about sustainable packaging are likely to drive the green composites market worldwide in the near future
- Of late, polypropylene composites reinforced with green or natural fibers have gained substantial popularity in the automotive sector. Reduced costs, distinct mechanical properties, lower density, and less energy consumption are advantages offered by natural fibers over manmade fibers.
- On account of their unique characteristics such as renewability, abundance, formability, cost-effectiveness and eco-friendly nature, green composites are anticipated to replace synthetic-fiber-based composites in several engineering applications during the forecast period
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Key Drivers of Global Green Composites Market
- Crude oil, a depleting natural resource, is a key component of synthetic composites. The increasing need for reducing the dependence on crude oil is expected to be drive the green composites market between 2019 and 2027.
- An increasing number of market participants have been substituting the fossil-based feedstock by bio-based materials in the recent years. Manufacturers are focused on incorporating biodegradable alternatives in their product lines in response to the risen consumer demand for sustainable products. This factor is likely to drive the consumption of green composites during the forecast period.
- Increasing consumption of green composites is estimated to maintain the CO2 balance in the earth’s ecosystem in the near future. Government regulations such as CAFE (Corporate Average Fuel Economy) are likely to provide significant potential for growth of the green composites market between 2019 and 2027.
Both Wood Fiber and Non-Wood Fiber Variants of Green Composites to Witness High Demand
- Social concerns, depleting carbon resources, and environment-related regulations have initiated search for new products and processes that are eco-friendly. Based on fiber type, the global green composites market can be divided into wood fibers and non-wood fibers.
- Wood fibers include hemp, jute, kenaf, flax, sisal, coir, and cotton. Hemp, flax, and kenaf wood fibers are expected to be lucrative variants of green composites during the forecast period.
- The global automotive industry aims to produce lightweight automotive parts with good mechanical properties in order to reduce CO2 emissions and enhance the fuel efficiency. Automakers are currently shifting toward green composites based on wood fibers such as hemp, which are not only cost-effective in terms of production, but also tougher than steel.
- Flax fibers are CO2-neutral, vibration damper, and renewable as compared to carbon fibers. Flax fibers have a few unique characteristics such as high tensile strength, vibration absorbency, property of blocking ultraviolet rays, and high water retention.
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Significant Growth Potential in Transportation and Healthcare Industries
- Based on end-use industry, the global green composites market can be divided into transportation, building & construction, consumer goods, energy, health care, and others (including textile and electrical & electronics)
- Green composites are likely to witness surge in the demand from sectors including transportation and healthcare during the forecast period
- The transportation sector is likely to prefer green composites, particularly for use in interiors and exteriors of automobiles. Green polyamides, such as polyamide-12, serve as lightweight materials for metal replacement in the transportation sector. This helps achieve reduction in the overall vehicular weight. For instance, Rilsan HT, a polyphthalamide (PPA) -based biopolymer by Arkema, is a notable high-temperature polyamide to replace metals in automotive tubing.
- Medical device designers have been shifting from metal toward plastic as their material of choice, particularly for use in 3D printing applications. The global health care industry is projected to witness significant demand for green composites in the near future.
North America to be a Key Market for Green Composites
- In terms of region, the global green composites market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is likely to be a key market for green composites during the forecast period. Increasing focus on reducing pollution and growing utilization of agricultural waste are expected to present lucrative opportunities to the global market for green composites in the near future.
Key Manufacturers Operating in Global Market
Several companies offering green composites are aggressively trying to expand their product portfolios to meet customer requirements and explore untapped markets. The global green composites market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- TECNARO GMBH
- MCG Biocomposites LLC
- GreenGran BN
- UPM Biocomposites
- Flex Form Technologies
- ALPAS Srl
- Procotex SA Corporation
- Bast Fibers, LLC
- Green Composites Pvt. Ltd.
Global Green Composites Market: Research Scope
Global Green Composites Market, by Fiber
- Wood Fibers
- Non-wood Fibers
Global Green Composites Market, by End-use Industry
- Building & Construction
- Health Care
- Consumer Goods
- Others (Including Textiles, Electrical & Electronics)
Global Green Composites Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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